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Quarter of over-55s planning to work after 65

Almost a quarter of people over 55 have resolved to work beyond the state retirement age of 65, according to MGM Advantage.

It surveyed 2,053 adults and found a third of those over 55 have been forced to put off retirement plans and continue working due to the recession. Thirty-five per cent of over-55s who are still at work – around 1.85 million people – say they will work longer than anticipated to replenish their pension pots.

The research also found that 35 per cent of those aged 55 and over admit to having done nothing to prepare for life after work.

Director Craig Fazzini- Jones says: “People want to work beyond the retirement age for all sorts of reasons, some because they have to financially and some because they simply do not want to stop working. Either way, increased flexibility can only be a good thing.”

The findings come after equality minister Harriet Harman set out proposals to scrap a compulsory retirement age earlier this month, claiming the current rule costs the economy £31bn a year.

The Equality and Human Rights Commission also called for the right to request flexible working to be extended to all.

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